Biographies

Mr. Dominique Marcel serves at Compagnie des Alpes SA as Chairman of the Board and Chief Executive Officer, and Member of the Executive Committee since March 19, 2009. He is also Chairman of the Company's Strategy Committee. He previously served at the Company as Chairman of the Management Board from October 14, 2008, Chairman of the Supervisory Board between December 2005 and October 14, 2008 and was first appointed on the Company's Supervisory Board on June 28, 2005. Mr. Marcel, a Certified Public Finance Auditor, graduated from Institut d'Etudes Politiques de Paris and from Ecole Nationale d'Administration in 1983, he also holds a DEA degree in Economics. He held various roles within the French Treasury department and also within ministries. He was Director of Finance and Strategy of Caisse des depots from November 2003 until June 2008 and also held various directorships and Supervisory Board positions, including those for Dexia Belgique SA and Accor SA. Currently, Mr. Marcel also holds several other posts, including Chairman of Compagnie des Alpes - Domaines Skiables SAS, Director of Grevin et Compagnie SA and Director of Eiffage SA, among others.

Ms. Daniele Clergeot serves at Compagnie des Alpes SA as Member of the Executive Committee and Deputy Chief Executive Officer - Department of Marketing, Sales, Product Development and International Development since September 1, 2011. A graduate of ESCP and IMD Business School in Lausanne, she previously worked at Nestle, Danone, RJR Nabisco/JTI in marketing and sales functions. She was Chief Executive Officer at Domaine de Chantilly from 2006 to 2010.

Mr. Jean-Francois Blas serves at Compagnie des Alpes SA as Member of the Executive Committee and Deputy Chief Executive Officer - Ski Area Operations at Paradiski, Grand Massif, Deux Alpes and Serre-Chevalier since March 19, 2009. He previously served as Member of the Management Board and Deputy Chief Executive Officer - Ski Areas from October 25, 2007. He has been Chairman of the Supervisory Board of STVI (Val-d'Isere), Sevabel (Les Menuires), DSF (Flaine), DSG (Gifre) and Director of Mortaval and Societe Financiere de Val d'Isere. Mr. Blas is a graduate of Hautes Etudes Commerciales and following several work experiences, he was appointed Managing Director of STVI in 1988. He became Chairman of STVI in 2002 and was also Appointed Managing Director of Sofival and Chairman of the Board and Chief Executive Officer of Serma (Avoriaz) and DSV (Valmorel).

Ms. Agnes Pannier-Runacher is Deputy Chief Executive Officer and Member of the Executive Committee of Compagnie des Alpes SA as of January 28, 2013. A graduate of Hautes Etudes Commerciales and Ecole Nationale d'Administration, she began her career in 2000 as a finance inspector at the French Ministry of the Economy, Finance and Industry. She then spent three years (2003-2006) as a cabinet director in charge of economic and financial oversight at the Public Hospitals of Paris Organization, in the context of activity-based healthcare pricing reform. In September 2006, she became Deputy Director for Finance and Strategy and Manager of the Equity Investments and Development Department at the Caisse des Depots Group. In early 2009, she joined the French public strategic investment fund (FSI) as Member of the Executive Committee. Since December 2011, she had been Client Division Director for automotive equipment manufacturer Faurecia, where she was in charge of commercial relations and R&D with GM Europe, Volvo, Jaguar and Land Rover. She also works as Independent Director of Bourbon.

Mr. Bernard Blas has been Vice Chairman of the Board of Directors of Compagnie des Alpes SA since March 19, 2009 and is also Member of the Company's Audit Committee and the Strategy Committee. He previously served at the Company as Member of the Supervisory Board from October 1, 2007 to October 25, 2007 and as Vice Chairman of the Supervisory Board from October 25, 2007 to March 19, 2009. Mr. Blas is Chairman of the Board and Chief Executive Officer of Societe Financiere de Val d'Isere SA (Sofival) and has been Permanent Representative of Sofival as Chairman of SERMA (Societe des Remontees Mecaniques de Morzine-Avoriaz), DSV (Domaine Skiable de Valmorel), DSR (Domaine Skiable de la Rosiere), Le Jardin Alpin and Valmont, among others. Mr. Blas graduated from Ecole de Commerce de Paris.

Ms. Celine Lemercier has been Director of Human Resources and Member of the Executive Committee of Compagnie des Alpes SA since January 1, 2011. A graduate of Institut d'Etudes Politiques de Paris, she held positions in France and the United States, in Human Resources, including Central Soya - Eridania Beghin Say, Valeo, JF Hillebrand. She was Director of Human Resources at Division of Personal Care at Rexam.

Mr. Francois Fassier has served as Industrial Director and Member of the Executive Committee of Compagnie des Alpes SA since December 1, 2010. He began his career in 1990 working for the Euro Disney group as Attractions Maintenance Manager. He held various positions and in 1998 became Chief Technical Officer, in charge of the maintenance and management of real estate. Mr. Fassier graduated from the Ensam University. He was also President of the Technical Commission of SNELAC from 2004 to 2010. After managing both Walibi Belgium and Bellewaerde as Director of the Belgian pole, in 2007 he became responsible for the Ile de France Pole, which consisted of Parc Asterix, Mer de Sable and Bagatelle.

Ms. Sandra Picard has been Communication Director and Member of the Executive Committee of Compagnie des Alpes SA since January 1, 2011. She has been with the Company since June 12, 2006. A graduate of Ecole Superieure de Commerce in Bordeaux, she served at Euro Disney SCA from 1996 and was appointed as Controller in 2000 before taking responsibility for Investor Relations. From June 2006 to October 2009, she was responsible for public relations and internal communication of the Company's Leisure Parks.

Ms. Delphine Pons serves at Compagnie des Alpes SA as Director of Innovation and New Businesses, and Member of the Executive Committee since 2012. She previously served at the Company as Director of Sales and Marketing and Member of the Executive Committee from September 1, 2011. She has been with the Company since May 2005. A graduate of ESSEC Business School, she worked in the Department of Strategy of Deloitte Consulting/Braxton Associes, where she was Manager in charge of telecom, media, distribution and support before she joined the Company. From May 2005 to October 2009, she was involved in improving the commercial policy and marketing of the Company's Leisure Parks.

Mr. David Ponson serves at Compagnie des Alpes SA as Director of Ski Area Operations at Espace Killy and Group Ski Areas in the 3 Vallees, and Member of the Executive Committee since January 1, 2012. A graduate of Ecole Nationale Superieure d'Arts et Metiers de Paris, he joined the Company in 1996 as Technical Manager for Operation and Quality and Member of the Management Board of Societe des Telepheriques de l'Aiguille Rouge (STAG). From 1998 to 2002, he was Head of the Ski Lift and Slope Operation Department. In March 2002, he became Deputy Chief Executive Officer of SEVABEL, then was appointed Chief Executive Officer of SEVABEL and coordinator of 3 Vallees Meribel and SEVABEL.

Mr. Jean-Yves Barnavon serves at Compagnie des Alpes SA as Director - Permanent Representative of Credit Agricole des Savoie since March 19, 2009. Prior to that, he served as Member of the Supervisory Board - Permanent Representative of Credit Agricole des Savoie since January 17, 2006. He is Chief Executive Officer of Credit Agricole des Savoie and also holds several other mandates, including Chairman of Credit Agricole Financement Suisse SA, Chairman of the Board and Chief Executive Officer of Deltager SA and Chairman of the Board of Directors of CA Indosuez Private Banking, among others.

Mr. Antoine Colas is Director - Permanent Representative of Caisse des Depots (CDC) at Compagnie Des Alpes SA. He graduated from Institut d'Etudes Politiques de Paris and from Universite Paris II Assas. He is Head of the Development Department and Investments at the CDC Group. He is also Member of the Remuneration and Nominating Committees of the Company.

Mr. Antoine Gosset-Grainville serves as Director of Compagnie des Alpes SA since January 19, 2011 and is also Chairman of the Company's Audit Committee. He is a graduate of Ecole Nationale d'Administration, Universite Paris IX Dauphine and of Institut d'Etudes Politiques de Paris. He began his career at the General Inspectorate of Finance (1993-1997). Subsequently he became Deputy Secretary General of Economic and Financial Committee of the European Union (1997-1999) and Adviser for Industrial and Economic Affairs in the cabinet of European Commissioner for Trade at the European Commission (1999-2002). He was Associate Attorney in the Brussels office of Gide Loyrette Nouel (2007-2010). He joined the Prime Minister's Office as Assistant Director until 2010. He has been Deputy Chief Executive Officer at Caisse des Depots since May 1, 2010. Mr. Gosset-Grainville is Deputy Chief Executive Officer of CDC and currently also holds several other mandates, including Director of CNP Assurances, Director of Dexia, and Director of Veolia Transdev, among others.

Mr. Pascal Marchetti serves at Compagnie des Alpes SA as Director - Permanent Representative of Banque Populaire des Alpes since March 19, 2009. Prior to that, he served at the Company as Member of the Supervisory Board - Permanent Representative of Banque Populaire des Alpes from March 1, 2008. He is Chief Executive Officer of Banque Populaire des Alpes since March 1, 2008 and also holds other mandates, including Permanent Representative of Banque Populaire des Alpes as Vice Chairman of the Board of Banque de Savoie, Director of Banque Marze and Director of Banque Palatine, among others.

Ms. Stephanie Paix serves at Compagnie des Alpes SA as Director - Permanent Representative of Caisse d'Epargne Rhone-Alpes since October 18, 2012. She previously served at the Company as Director - Permanent Representative of BPCE from March 15, 2012. She is Chairman of the Management Board of Caisse d'Epargne Rhone-Alpes and holds several other mandates, including Chairman of the Supervisory Board of Rhone Alpes PME Gestion, Director of Natixis and Siparex Associes, and Director of Credit Foncier de France, among others. She graduated from Institut d'Etudes Politiques de Paris and from Universite Paris Dauphine with a Masters degree in Tax.

Mr. Francis Szpiner has been Director of Compagnie des Alpes SA since March 19, 2009. Prior to that position, he worked at the Company as Member of the Supervisory Board from January 17, 2006. Mr. Szpiner is a Lawyer and Licensed Attorney with the Paris bar since 1975. He has been Professor at Ecole des Hautes Etudes Internationales since 2000 and Senior Lecturer at Institut d'Etudes Politiques de Paris since 2007.

Mr. Gilles Chabert serves as Independent Director of Compagnie des Alpes SA as of March 19, 2009 and is also Independent Member of the Company's Appointments and Remuneration Committee and the Strategy Committee. He previously served at the Company as Independent Member of the Supervisory Board since July 5, 2004. Mr. Chabert is Chairman of the Board of Directors of SNMSF (National Union of French Ski Instructors) since 1994. He also has several additional duties, including Vice Chairman of Association des Moniteurs Professionnels de l’Arc Alpin, representative of SNMSF on the Boards of France Montagnes and of l’Association des Maires des Stations de Montagne, as well as Co-Manager of SCI Montagnette and Director of Banque Populaire des Alpes, among others.

Mr. Giorgio Frasca has been Independent Director at Compagnie des Alpes SA since December 15, 2009 and is also Independent Member of the Company's Audit and Finance Committee and the Chairman of Appointments and Remuneration Committee. Mr. Frasca holds a Doctorate degree in Law gained at Universita degli Studi di Roma. He is a Lawyer and Law Professor. From 2006 to 2009, he worked as Vice Chairman of Lazard International within Banque Lazard Freres. Prior to that position, he held various positions within the Fiat Group in France and abroad. Mr. Frasca chaired Fiat France from 1981 to 1985. He currently works also as Manager of Aterno SARL.

Mr. Jacques Maillot serves as Independent Director of Compagnie des Alpes SA since March 19, 2009. He previously served at the Company as Independent Member of the Supervisory Board from July 5, 2004. Mr. Maillot holds a degree in Law. He is Founding Chairman of Nouvelles Frontieres. From April 2004 until February 2005, he served as Chairman of the Board of Eurotunnel. He currently also holds several other mandates, including Director of Generali Vie and Generali IARD, Director of Voyages du Monde and Member of the Supervisory Board of EasyVoyage, among others.

Ms. Rachel Picard has been Independent Director at Compagnie des Alpes SA as of December 15, 2009 and is also Independent Member of the Company's Strategy Committee. A graduate of Hautes etudes commerciales (HEC), she has been Chief Executive Officer of Gare et Connexions (SNCF Group) since May 2012. From October 2011 until April 2012, she was Head of Thomas Cook France after having served as Deputy Chief Executive Officer of the French branch in charge of tour-operating. Before that, she worked at Voyages-sncf.com as Managing Director from January 2007 until September 2011, and Deputy Managing Director in charge of Marketing, Sales and Operations. From 2000 to 2002, Ms. Picard led Travel Editions Atlas and she was Head of Tour Operating Europe at Frantour from 1993 until 2000.

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